Indiana Gov. Eric J. Holcomb (R) acted swiftly on the passing of a health bill, which includes provisions to fund clinical research trials into psilocybin. Sent by the state legislators to his desk on March 12, the governor officially signed the proposal into law the following day, March 13.
The broad healthcare bill, HB 1259, with final amendments adding the psychedelics language – originally SB 139 passed the Senate and the House's Public Health committee – received the green light from both state chambers on March 12.
SB 139's sponsor, Sen. Ed Charbonneau (R), explained that "while SB 139 did not make it through the legislative process, the language was added to House Enrolled Act 1259, which would also expand the number of people eligible to provide health care services."
The broad legislation simplifies requirements for nursing instructors and increases transparency around pharmacy benefits managers. It also establishes a research fund for medical and therapeutic use of psilocybin, yet its use outside clinical trials is still illegal.
Bill sponsor Rep. Brad Barrett (R) said Indiana "can lead the nation in research" on psilocybin's therapeutic effects -recalling the treatment has received the breakthrough therapy designation several times. “This fund just simply establishes a mechanism.”
Now Read: FDA Grants Cybin Breakthrough Therapy Status For Major Depression Psilocybin Therapy
The amended bill's psychedelics provision signed by Gov. Holcomb calls on the state to create a therapeutic psilocybin research fund to provide financial assistance to state research institutions for psilocybin trials that must include veterans and first responders.
As the law became effective immediately upon passage, officials must establish a process to administer the fund and process applications by July 1, 2024.
Researchers will need to apply to the state's Health Dept. The list of conditions to be researched includes PTSD "with a focus on treating the disorder in combat veterans and first responders," anxiety, depression, bipolar disorder, chronic pain, migraines, alcohol use disorder and tobacco use disorder.
Studies would need to compare the efficacy of psilocybin as a treatment for mental health and other medical conditions with the efficacy of other current treatment options. Upon study completion, researchers must submit a findings report to the Interim Study Committee on Public Health, the Indiana Behavioral Health Commission and Human Services and the State Department and Division of Mental Health and Addiction.
Photo courtesy of Unsplash and Wikimedia Commons.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving – don’t get left behind!
Curious about what’s next for the industry and how to leverage California’s unique market?
Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!
Get your tickets now to secure your spot and avoid last-minute price hikes.